Infographic: Western Canada office and industrial vacancies

Third quarter vacancy rates show a steady decline in empty office space in Vancouver, a rise in office vacancy in Calgary, and a decline in industrial vacancy in Saskatoon and Winnipeg.

Third quarter reports on Western Canada’s industrial and office markets reveal continually low vacancy rates in both arenas in Vancouver. Downtown office vacancy dropped from 8.2 per cent during the second quarter to 6.9 per cent in the third quarter. Office space under 2,000 square feet has become scarce, according to Colliers International.

Industrial vacancy in Vancouver remained below the 2 per cent mark, but rose slightly due to new supply. The recent completion of Oxford Properties’ Queensborough Logistics Park – Building 3 added 223,009 of available square footage to the Metro Vancouver industrial market.